Cramer Rosenthal Mcglynn LLC lowered its position in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 10.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,719,351 shares of the scientific and technical instruments company’s stock after selling 319,495 shares during the quarter. FLIR Systems comprises 1.7% of Cramer Rosenthal Mcglynn LLC’s holdings, making the stock its 7th biggest position. Cramer Rosenthal Mcglynn LLC owned 1.96% of FLIR Systems worth $105,810,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in FLIR Systems by 2.1% in the second quarter. Vanguard Group Inc. now owns 13,611,660 shares of the scientific and technical instruments company’s stock valued at $471,779,000 after purchasing an additional 285,535 shares in the last quarter. BlackRock Inc. raised its stake in FLIR Systems by 6.6% in the second quarter. BlackRock Inc. now owns 9,366,367 shares of the scientific and technical instruments company’s stock valued at $324,639,000 after purchasing an additional 576,951 shares in the last quarter. Findlay Park Partners LLP raised its stake in FLIR Systems by 38.3% in the third quarter. Findlay Park Partners LLP now owns 2,165,000 shares of the scientific and technical instruments company’s stock valued at $84,240,000 after purchasing an additional 600,000 shares in the last quarter. Earnest Partners LLC raised its stake in FLIR Systems by 4.4% in the second quarter. Earnest Partners LLC now owns 2,128,673 shares of the scientific and technical instruments company’s stock valued at $73,780,000 after purchasing an additional 90,335 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in FLIR Systems by 29.0% in the second quarter. Renaissance Technologies LLC now owns 1,761,060 shares of the scientific and technical instruments company’s stock valued at $61,038,000 after purchasing an additional 395,500 shares in the last quarter. 91.55% of the stock is owned by institutional investors.
A number of research analysts recently commented on FLIR shares. SunTrust Banks boosted their price target on FLIR Systems from $37.00 to $43.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Robert W. Baird reaffirmed a “hold” rating and issued a $34.00 price target on shares of FLIR Systems in a research note on Tuesday, October 24th. Needham & Company LLC boosted their price target on FLIR Systems from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, September 6th. Zacks Investment Research raised FLIR Systems from a “hold” rating to a “strong-buy” rating and set a $53.00 price target for the company in a research note on Thursday, October 26th. Finally, Raymond James Financial boosted their target price on FLIR Systems to $60.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $46.33.
FLIR Systems (NASDAQ:FLIR) last issued its earnings results on Wednesday, October 25th. The scientific and technical instruments company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.04. The firm had revenue of $464.70 million during the quarter, compared to the consensus estimate of $446.06 million. FLIR Systems had a return on equity of 14.30% and a net margin of 12.30%. The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.48 earnings per share. sell-side analysts forecast that FLIR Systems, Inc. will post 1.86 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Wednesday, November 22nd. FLIR Systems’s payout ratio is 37.74%.
In other FLIR Systems news, SVP Todd M. Duchene sold 9,000 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $47.00, for a total transaction of $423,000.00. Following the completion of the transaction, the senior vice president now owns 29,767 shares of the company’s stock, valued at $1,399,049. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Brian E. Harding sold 1,836 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $46.90, for a total value of $86,108.40. Following the sale, the vice president now owns 6,646 shares in the company, valued at $311,697.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,036 shares of company stock valued at $1,039,316. Insiders own 3.00% of the company’s stock.
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FLIR Systems Company Profile
FLIR Systems, Inc (FLIR) designs, develops, markets and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems and threat-detection solutions. The Company’s segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.
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